Geithner Tells NBC S&P Shows "Stunning Lack Of Knowledge About Basic US Fiscal Budget Math"

Tyler Durden's picture

Geithner was on NBC and when discussing the massively overdue S&P downgrade of US debt, shared the following pearl of wisdom: "S&P decision to cut U.S. credit rating shows stunning lack of knowledge about basic U.S. fiscal budget math." Listen to Tim: when it comes to stunning lacks of knowledge about things, Tim is the absolute expert, although in his case it is mostly the US tax code. He added that S&P made a "terrible judgment" and reached the wrong conclusion. He is right. The cut should have been at least several more notches. But there is time... Lastly, and most expectedly, he added that the S&P decision changed nothing on the safety of Treasuries and that China remains a strong investor in the US. Perhaps. We shall see after the TIC statement from October is released, which will detail August transactions. Alas, by then the world will have other issues to deal with.

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FLUSA.com's picture

Geithner submits his Letter of Retardation....

Troll Magnet's picture

All this bickering back and forth seems to me like a bunch of charades to deflect people's attention away from the fact that a bunch of insiders had inside information and got the hell out of dodge before the shit hit the fan last week.  Instead of listening to what these criminals are bickering over, we need to demand an investigation into who knew what, when and how.  

Mr Lennon Hendrix's picture

If you are talking about all the Christian dudes that had come back from three weeks in the Grove last week, then duh!

Threeggg's picture

"fact that a bunch of insiders had inside information and got the hell out of dodge before the shit hit the fan last week"

Quote of "this" week !

Tuco Benedicto Pacifico Juan Maria Ramirez's picture

Yes, which fox currently guarding the hen house do you propose to do the investigating?

Tuco

Chuck Walla's picture

And believe it or don't, NBC is surprised their boy is a feckless and callow idiot. Now, how do they build him up again as the nation's savior? It worked before...

makeyoumiss's picture

One of the best comments I've read in a long time!

nmewn's picture

Turbo Tax Timmah pontificates on math...it just doesn't get any better...LOL!!!

MarketTruth's picture

And remember that Chinese STUDENTS literally LAUGHED in Geithner's face when he went there spewing his BS about two years ago. Everyone with a brain knows Geithner's is a dolt and the 5% yearly growth the US Gov is judging their numbers on is a farce.

WestVillageIdiot's picture

Is it your opinion that those numbers are too low?  Do you think we will have growth over 5 percent for the foreseeable future?  Just messing with you.  He really is a douche. 

darkstar7646's picture

The problem with that, MarketTruth, is that the Chinese models are even more farcical.

Uncle Remus's picture

Proof then that the Chinese know farcical when they see/hear it.

IQ 145's picture

Yes, that's a good thing to be remembering. I laughed out loud when I came to the part about China remains a strong buyer of treasuries. Less and less so all the time. What  do you call this? If the Band plays a little louder, maybe the bows won't sink any further into the Atlantic?

VisualCSharp's picture

Mass hysteria with a lisp? LOL

Although I guess that would be 'math hythteria.'

WestVillageIdiot's picture

That's as funny as Obama becoming a golf pro. 

Uncle Remus's picture

By virtue of being a politician he was already a "pro".

Tuco Benedicto Pacifico Juan Maria Ramirez's picture

Yes, like Bill Clinton the best wood in his bag is his "pencil"!

Tuco

Id fight Gandhi's picture

No risk at all for a downgrade remember. This guys knows his shit.

Anyone else having issues with zh loading?

Kayman's picture

Anyone else having issues with zh loading?

yes. And something called Pressflow / Drupal telling me that I cannot connect to ZeroHedge.

oogs66's picture

his own stunning lack of knowledge! 

lunaticfringe's picture

OMG. I think I've just pissed myself laughing so hard!

LeBalance's picture

clean up crew to Aisle Wight!

Cheesy Bastard's picture

Lol.  To aisles of Greece?

glenlloyd's picture

I am still amazed that such garbage can flow from the mouth of mr jeethner.

Bob Sacamano's picture

I'm telling you -- BHO and his administration are beyond arrogant.  They know what is true and, worst yet, they know what is best for the people.  Central planning is the end game. 

moregoldplease's picture

This from the guy that couldn't figure out his tax software!!!!!!!!!!!

Mactheknife's picture

No...this from the guy who SAID he couldn't figure out his tax software...Turbo Timmy.

The Limerick King's picture

There once was a Klepto named Tim
Who everyone thought was quite dim
With cunning and stealth
He stole all their wealth
Now laughing the loudest is him.

James's picture

Imagine a "Weird"Al Yankovich redoing this song. It's even about Canabilism!\

http://www.youtube.com/watch?v=DGNdvKvbxYQ

Ramboy's picture

This site is too funny.  Don't you know your leaders reflect your people.

Quixotic_Not's picture

I haven't voted since We the Sheeple failed to elect Perot in 1992!

Moreover, there's a HUGE section of the USoA that didn't CONSENT to the (D) & (R) Free Shit Empire™...

So from an A-M-E-R-I-C-A-N, not a POS DemoRAT -or- GOPher, I don't find the District of Criminals funny one fuckin' bit!

Abitdodgie's picture

Did you know if you rescind your voting rights you can then challenge paying income tax remember "taxation without representation" well it works the other way round.

Quixotic_Not's picture

You first!

I keep paying my protection money to the FSA mob, as I'm outnumbered at least 1,000,000 -to- 1 :-(

darkstar7646's picture

The only problem is that the Free Shit Empire/Army is the only reason people don't knock down your door and loot your ass dry.

Tuco Benedicto Pacifico Juan Maria Ramirez's picture

Ha, ha.  When the looting comes it certainly "will be" the Free Shit Empire/Army.  Have you not yet figured out that the Department of Homeland Security was established to be used against the American people!?  Knock, knock:)

Tuco

darkstar7646's picture

Then they might want to be prepared to move rather quickly. Social order is being lost on more than just individual circles these days. If it ever gets above a _small_ mob...

WestVillageIdiot's picture

First off, they are our representatives, not our "leaders".  Second off, the crowd on ZH is mostly not the run-of-mill brain dead American that is reflected by the clowns in office. 

Kayman's picture

Come on now Ramboy, tell us what pristine leader you have in your pristine country.

Bet you don't have the guts to tell the truth.

If ya can't take a punch in the mouth then, read, don't comment on ZH.

geoffb's picture

In case you weren't aware of it, our government was captured by bankers circa 1913. We the people, have had little  say in matters since then. No denial here, just harsh, painful truth.

James's picture

But our leaders do not reflect ZeroHedge.

Ramboy's picture

NATION FULL OF DENIAL

MrBinkeyWhat's picture

My Winkie is bigger than your winkie. Poop.